Market opens flattish to start the new week. After 6 consecutive weekly gains for the S&P, stocks seem to be taking a much needed breather. The Tech-heavy Nasdaq had the best January since 2001 when it rose 12%. It then fell 22% in February for its third-worst month ever. So now what you might ask? A lot of the good news, and perhaps more accurately less bad, has been priced in already with this bounce. Most Asian markets are closed this week, but the world is still very much open. Washington is politics as usual with the 2020 election already in motion. Continued optimism around a trade deal with China builds. A meeting between Presidents Trump and Xi is likely at the end of the month and reportedly in Thailand. Brexit is back to the drawing board for May, but her deal looks more and more like the best option of a list of bad. Earnings Season is halfway over, and the results have been much better than perhaps feared in December. President Trump will give the State of the Union address tomorrow night from our nation’s Capitol. Nations are rushing to take a stand on the future of Venezuela’s leadership, which seems to be gaining significant momentum to the self-proclaimed President Juan Guaido. Stocks are mixed. Gold and Oil are lower, as are interest rates while the Dollar is higher. Hang on for the ride.
Have a great morning,
Mike Frazier
